Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
293,610
edits
Changes
Jump to navigation
Jump to search
Line 48:
Line 48: + +
→Taxed Social Security
===Taxed Social Security===
===Taxed Social Security===
Among his notable achievements, the one he is least known for is casting the tie-breaking vote to [[tax]] elderly [[Social Security]] benefits who earn as little as $22,000 per year.
In 1993 President Clinton sought to increase taxes on [[Social Security]] benefits of the elderly and disabled.<ref>http://www.house.gov/house/Contract/seniorsd.txt</ref> The final version of the bill passed by the [[Democrat]]ically controlled Congress increased taxes on beneficiaries from the first 50% to 85%<ref>http://web.archive.org/web/20040408115747/www.ssa.gov/OACT/HOP/hopi.htm</ref> of benefits (or "annuity payments" as they were originally called). [[Vice President]] Al Gore cast the deciding tie-breaker vote in the Senate to make the tax increase law. The Clinton-Gore tax increase on Social Security benefits imposed a 70% [[income tax]] rate on a retired couple making as little as $22,000 per year.<ref>[https://books.google.com/books?id=vLg4iJR0J9kC&pg=PA16593&lpg=PA16593&dq=Vice+President+Gore+cast+the+tie-breaking+vote%2Bsocial+security&source=bl&ots=-ImIDX6fHa&sig=ttWVUNAIVsLQoEg1ZhCntHB_02Y&hl=en&ei=dobVTMr9HoOglAe0iuX9CA&sa=X&oi=book_result&ct=result&resnum=2&ved=0CBYQ6AEwAQ#v=onepage&q=Vice%20President%20Gore%20cast%20the%20tie-breaking%20vote%2Bsocial%20security&f=false Congressional Record, Comments by Rep. Christopher Cox,] July 27, 2000.</ref>
In 1993 President Clinton sought to increase taxes on [[Social Security]] benefits of the elderly and disabled.<ref>http://www.house.gov/house/Contract/seniorsd.txt</ref> The final version of the bill passed by the [[Democrat]]ically controlled Congress increased taxes on beneficiaries from the first 50% to 85%<ref>http://web.archive.org/web/20040408115747/www.ssa.gov/OACT/HOP/hopi.htm</ref> of benefits (or "annuity payments" as they were originally called). [[Vice President]] Al Gore cast the deciding tie-breaker vote in the Senate to make the tax increase law. The Clinton-Gore tax increase on Social Security benefits imposed a 70% [[income tax]] rate on a retired couple making as little as $22,000 per year.<ref>[https://books.google.com/books?id=vLg4iJR0J9kC&pg=PA16593&lpg=PA16593&dq=Vice+President+Gore+cast+the+tie-breaking+vote%2Bsocial+security&source=bl&ots=-ImIDX6fHa&sig=ttWVUNAIVsLQoEg1ZhCntHB_02Y&hl=en&ei=dobVTMr9HoOglAe0iuX9CA&sa=X&oi=book_result&ct=result&resnum=2&ved=0CBYQ6AEwAQ#v=onepage&q=Vice%20President%20Gore%20cast%20the%20tie-breaking%20vote%2Bsocial%20security&f=false Congressional Record, Comments by Rep. Christopher Cox,] July 27, 2000.</ref>